Some red-state lawmakers have sought to prohibit public-sector entities from conducting business with financial firms that consider environmental, social, and governance (ESG) when investing.
- Are these actions anti-capitalist?
- Michael Bloomberg argues that the former New York City mayor seeks to advance a logically consistent argument for why ESG is sound economics, but his points are as confused as the principles upon which the ESG movement is grounded
- Bloomberg writes that "anti-ESG crusaders position themselves as defenders of the free market" yet actually intend "to use government to block private firms from acting in the best interest of their clients, including retired police officers, teachers and many others who depend upon public pensions."
- He characterizes money managers' responsibility to consider relevant risks and broader trends when making investment decisions as "Investing 101."
https://www.city-journal.org/michael-bloombergs-case-for-climate-corporatism
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